Loan taken by a company from nbfc treated deposits
This query is : Resolved
The Company Law Desk
(Querist)
18 April 2014
1) Whether the loan taken by a Company from NBFC treated as deposits?
The Company Law Desk
(Querist)
18 April 2014
No
Section 73 of the Companies Act, 2013 states that the restrictions of “Acceptance of Deposits” will not be applicable on NBFC.
Also as per Rule 2 (c) of the Acceptance of Deposits Rules, the amount received from recognised Public Financial Institution (which as per RBI guidelines covers NBFC) will not be treated as deposits.
Thus, a Company can take loans from NBFC and no restrictions of this Chapter will prevail.
For further queries & clarifications visit www.thecompanydesk.webatu.com
Or write us at thecompanydesk@gmail.com
The Company Law Desk
Section 73 of the Companies Act, 2013 states that the restrictions of “Acceptance of Deposits” will not be applicable on NBFC.
Also as per Rule 2 (c) of the Acceptance of Deposits Rules, the amount received from recognised Public Financial Institution (which as per RBI guidelines covers NBFC) will not be treated as deposits.
Thus, a Company can take loans from NBFC and no restrictions of this Chapter will prevail.
For further queries & clarifications visit www.thecompanydesk.webatu.com
Or write us at thecompanydesk@gmail.com
The Company Law Desk
Nikhil Kaushik
(Expert)
18 April 2014
if you have queries, please post here. else post in the forum.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Late Filing Fee Waiver for Q1 Form 144 (Earlier 27Q) – Transition to Income-tax Act, 2025
- Clarification on GST, TDS, and Accounting Provisions for Import/Export Commission Agents,profes. ser
- Ito add credit side of bank
- GSTR9 Annual Return
- Employee secondment
- Rent agreement of House of deceased person
- LLP audit and disclosure
- Import of Capital Machine
- Positive Balance in RCM Liability/ITC Statement – Commercial Rent RCM – Guidance Required
- Gift to nri relatives resides in usa
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- Need Professional Opinion - AY 2012-13 Old Demand & AY 2026-27 Refund Adjustment
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
